Taxable Talk

From Russ Fox, E.A., of Clayton Financial and Tax of Irvine, CA
All items below are for information only and are not meant as tax advice.
Please consult your own tax advisor to see how each item impacts your own situation.
US 58, Hovind 0
Since we're still in football season, I thought it would be appropriate to report this story in that format. As I reported earlier, Hovind was accused of 58 counts of tax fraud and related charges. Last Thursday he was found guilty on all 58 charges. He could get 288 years, and will definitely have to forfeit $430,400.

Hovind's wife, Jo, was also found guilty on all the charges she was accused of. Her 44 guilty verdicts could earn her 225 years in prison. Unlike her husband, she was released until sentencing in early January.

A friend of the Hovinds, Richard Hogan, gave the Pensacola News-Journal some of the best advice I've ever seen when you have a dispute with the IRS: "It's pretty tough to fight Goliath...The first time the IRS calls, you should go ahead and deal with it. It didn't have to come down to this."
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